The European Investment Bank is plans to hire a derivatives-savvy capital markets officer to work in its funding group in Luxembourg. The recruit would be partly responsible for the development bank's funding in the debt markets, particularly in the U.S. dollar markets, as well as interest-rate and foreign exchange swaps on the back of those deals.
The EIB wants "someone who can do the issues and also the hedges behind them," said Jean-Erik de Zagon, senior capital markets officer for euro-based funding in Luxembourg. He noted the bank's main use of over-the-counter derivatives is plain-vanilla fixed-to-floating interest-rate swaps. The EIB is also studying whether to use credit derivatives for the first time (DW, 11/12), but de Zagon said the position in question would only deal on the funding side with interest-rate and fx swaps. He said the role comes about as part of an internal reorganization of the roughly 10-strong capital markets group, declining further comment.
